We save Homes Inc. Launches Housing Asset Recovery Plan (HARP) in Washington DC

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Act To Take Advantage Of The Obama Mortgage Refinance Plan

Article by Timothy Wong

If the mortgage being refinanced was sold to Freddie Mac with recourse and indemnification, view or other credit enhancements defined in Guide Chapter B24, this it is ineligible to be refinanced as a ReliefYour mortgage payment history be no more than 30-day late the past 12 months. If mortgage is less than 12 months old, then no 30-day or more delinquencies since the note date.So what are some of the benefits?The Relief Refinance Mortgage must result in at least one of the following:•Reduction in the interest rate of the first lien mortgage,•Replacement of an ARM, Initial Interest?? Mortgage (or any mortgage with an interest-only period) or a balloon/reset mortgage with a fixed-rate, fully amortizing mortgage, or•Reduction in the amortization term of the first lien mortgage.Obama refinance plan has been primarily designed to make the financially grappling homeowners to pay their monthly mortgage payment successfully so that they may be able to avoid foreclosure. In case you are the home owner who is in the adjustable rate mortgage slab, not able to pay the monthly payments; home affordable refinance program (HARP) is for you. If you are one of those homeowners who have not been able to repay the mortgage loan, then HARP is the right option to start with. HARP program to stop foreclosure is a smart program to make financially stricken US homeowners go free of their mortgage loans.During 2009, the bailouts for mortgages continued on with the new house refinancing plan that was created to assist floundering homeowners who have not been qualified for the traditional method of refinancing their loans due to the rapid reduction in property values. The current housing problem did away with the equity that millions of homeowners once had. The HARP, or Home Affordable Refinance Program brought around a new type of government refinancing methods that has become available to a broader section of homeowners. HARP is a segment of the Obama Mortgage Plan that assists American homeowners in reducing their mortgage loan payments or altering their current mortgage loan payments so that they are able to remain in their house and keep foreclosure at bay.The most current government refinancing initiatives offer a few different type of benefits over that of the conventional refinancing of a home mainly because it does not need any equity. Actually, the house values have reduced so much that the latest Obama mortgage plan allows homeowners to refinance their current mortgage payments up to that of 125% of the present property value of the property. The “125 loan plan” is hopes to help homeowners refinance into that of a reduced mortgage monthly payment.Below I have detailed some of the essential aspects of qualifications that are needed for the HARP.–The Obama’s Home Affordable Refinancing Program lets a homeowner refinance their current mortgage payments only if they are trying to refinance their primary home.–The homeowner must be up to date with their current mortgage payments and the mortgage must have insurance through one of the mortgage companies that are government backed. (Being current with the mortgage means that you have been no more than 30 days late on 1 payment in the past 12 months)–The property that the homeowner is wishing to refinance must have been purchased prior to or on January 1, 2009 in order to qualify.

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All about Va lenders guidelines and mortgage refinance under the harp loan program. Get a harp refinance with the help of the Obama administration.Va lenders guidelines, Veterans affairs (VA) mortgages and

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What is President Obama’s Making Home Affordable Program All About

Article by Justin Richards

There’s been a lot of chatter about Obama’s administrations Making Home Affordable Program. This program announced in March of 2009 has two components to it: 1) the Home Affordable Refinance Program or HARP for short and 2) the Home Affordable Modification Program also known as the HAMP program.

The primary objective of the Making Home Affordable Program is to help stabilize housing prices. By helping you to stay in your home that puts one less foreclosure on the marketplace that ends up selling at a lower than market price – which in turn helps to stabilize the value of everyone else’s home around you. The government believes that by helping to stabilize the housing market and help to keep people in their homes it will help to stabilize the broader economy.

The HARP program (Home Affordable Refinance Program) is designed for mortgages owned by Freddie Mac and Fannie Mae in which the homeowner can afford their monthly payments but is unable to refinance because they currently owe more than their home is worth. Under this program Fannie Mae and Freddie Mac will allow them to refinance up to 105% of the value of their home at today’s market interest rate. In order to qualify for this program you must have a satisfactory credit rating.

Regarding the HAMP program (Home Affordability Modification Program) – this program is designed to help people who are in foreclosure or going to be in foreclosure to keep their homes. This program is designed to assist people who have suffered some sort of financial hardship due to a reduction in income such as the loss of a job for your spouse or experienced an increase in the mortgage payment as in the case of an adjustable rate mortgage that adjusted up. The household must still have income however credit is not a factor.

Under the guidelines of the HAMP program your interest rate can be lowered to as low as 2% for up to 5 years, no rx the bank may also extend the repayment term up to 40 years, approved and a portion of the principle balance of your loan may be placed on forbearance – A big word meaning its still hanging out there but you don’t have to pay interest on it for a certain period of time. If you sell your home – you’ll still have to pay that money back. All of these factors are designed to get your mortgage payment down to 31% of your gross household income.

For participating lenders in the HAMP program the Federal Government has sweetened the pot by giving them an incentive to modify an applicant’s loan. For each of the first five years of the modification the Feds will pay your lender a certain amount per month for accepting the modification. In addition, this as a homeowner, if you make your new modified payment on time you may be eligible for ,000 in principle reduction for every year you make your payments on time – up to 5 years.

It is up to your particular lender to determine how they want to modify your loan – they don’t always have your best interests at heart so be careful. If you feel the new terms they are offering you are going to put you in a worse situation down the road you do have options. You should consult your attorney or a reputable company that regularly deals in loan modification. These competent professionals can help to make sure you get the best deal possible and don’t get taken advantage of by your bank.

About the Author

In 1998 Mr. Richards graduated from University with a bachelor’s degree in Business Management and Finance. Mr. Richards is happily married with four beautiful children. He is currently serving as a consultant for SureFast Loan Modification.com. Visit Blog: All About Loan Modifications

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We save Homes Inc. Launches Housing Asset Recovery Plan (HARP) in Washington DC
Articles by Abe

Hinton

. Global West Resources Inc. (-

The company has a special task force to work with all branches of the federal government to find solutions for all homeowners, more about banks and investors maintenance (Laguna Niguel, site 22 April 2009) created, viagra OTC BB: GWRC), soon to be known as we Homes Inc. / WSHI saving with the help of board member and former Fed Governor, Wayne Angell, met with leading lawmakers to his cabinet Asset Recovery Plan (HARP) to introduce. In the early stages, legislators from both sides of the aisle believe the HARP plan could be a solution that addresses the homeowner’s needs, its operating bank and its investors -. Be a group largely ignored by other plans “The benchmark of success, our ability to plan, the Americans in their homes without burdening the government and the future generations of Americans with the financial responsibility to maintain, reducing government’s role from that of a creditor, that the guarantor “stated GWRC Chairman, Mr. Andrew Kardish. The harp is working with the Obama plan by a reverse-engineering process. Based on what the homeowner may pay on a monthly basis, the plan works by installing a 4.25% interest rate and changed the capital and the life of the loan to fit the homeowner budget if the homeowner can, in fact, it afford that Sheila Bair to home.According, FDIC chairman said while speaking at the University of Mass at the end of March 2009, the importance of restructuring loans Bair, so that people can afford them, something she said the FDIC has for years.The principal amount of the loan were stimulated changes will fall between the estimate it would cost the bank to foreclose on the property and the current value of the loan. GWRC proposed solution is based on pricing, identifying the correct value of the loan would be taking into account the loan amount, the amount of the loan in a foreclosure situation and the amount of these loans are traded in traunches on Wall Street. The price discovery goes from 100% on the high side at 56% to 3-28% when considering the value Wall Street places on it.The HARP plan allows the bank service to move these toxic assets into discounted assets . The service bank can then participate in the top of the home value when the market begins the most attractive features of the HARP rebound.One is that by introducing a rate of 4.25% for all homeowners who are moral hazard of prioritizing of overcoming crime and considers all home and apartment owners – people in need a loan modification and those who could use a better interest rate, as they make their mortgage payments each month. “GWRC / We Save Homes Inc. could be the solution for the pricing on the housing markets, which is the underlying problem of the current credit markets, which hinder the U.S. and the world economy continues,” says former Fed Governor, Wayne Angell . The HARP plan is an amalgamation of some of the top economic minds in the country with input from both congressional leaders and Senate banking officials. Key of the Congress meetings were held with leaders of our nation in terms of the DC-mortgage crisis, rather than keep working with elected officials on a common solution for every American in their house. GWRC a special task force to find with all branches of the federal government, alternative solutions, advanced work has created. “We believe that fully complies HARP write the homeowner’s needs by the President, the servicing banks concerned and the preventable structure down, is that Wall Street has long been waiting for,” said Andrew Kardish. “We believe this to separate addresses on Wall Street and a positive effect on all fronts of the national market have.” GWRC soon continue to We Save Homes, Inc. plans to meet with finance ministers and key congressional offices directly involved in solving Americas housing crisis. For further details on the HARP please visit www.wesavehomes.com / harp plan about Global West Resource Corp. We Save Homes Inc., soon to be (OTC BB: GWRC) Global West Resources Corp. soon We save Homes Inc, is the first companies are publicly traded in order to assist homeowners nationwide. GWRC mission through their large nationwide network plans to the Americans in their homes without burdening the government and the future generations of Americans with the financial responsibility to maintain, reducing government’s role from that of a creditor to that of a guarantor. WSHI can be achieved by the implementation of their business model and the Housing Asset Recovery Plan (HARP) to achieve. We save Homes Inc. by a group of real estate, mortgage, financial and legal professionals dedicated to educating and assisting home and apartment owners was established. Our vision is to empower, home and apartment owners with the knowledge that they can make informed decisions and stay in their homes during these difficult economic times. GWRC has successfully implemented a bi-lingual network of resources that are created to facilitate the loan modification process. Visit our website at www.wesavehomes.com Visit our website at www.wesavehomes.com writes

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Abe Hinton regularly about finance related topics. I hope you enjoy this article.

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